Stuckey & Co., the managing general agent for the Aspire A&E (architects and engineers) insurance program, has introduced an online application for small architectural and engineering firms to apply for and receive insurance coverage from their local agents.
The online insurance application takes about 15 minutes to complete and obtains the information that Stuckey needs to prepare a quote proposal. The application can be used for professional liability insurance and/or business owners policy (BOP) coverage.
For businesses that prefer to submit a written application, there is also a downloadable application. Stuckey says it turns around quotes for hardcopy applications in 24 hours or less.
Aspire A&E is underwritten by an A+ XV rated carrier and is available with annual premiums as low as $500 and deductibles as low as $1,000, including first dollar defense, worldwide coverage, defense outside the limits, and/or aggregate deductibles.
Stuckey says in the architectural and engineering field, approximately 87 percent of firms in the $11 billion industry generate $1.5 million or less in annual revenue. During the past two years, as larger firms laid off employees, many professional architects and engineers formed small consultancies or pursued work as independent consultants.
Stuckey introduced Aspire A&E in April 2009 and says it has bound more than 250 firms since then.
The quote proposals include the price quote, the policy that would be issued, and a partially complete application that is ready to be signed and dated for binding.
In addition to professional liability, the Aspire A&E policy includes electronic media and network operations security, computer products and computer services, including coverage for business information modeling (BIM) and computer aided drafting and design (CAD). Other coverages offered by Stuckey include property, liability, workers comp, commercial auto, employment practices liability and more.
Firms that should apply for Aspire A&E include businesses with $1.5 million or less in revenue located in any state, except Alaska and Hawaii.
Covered engineering disciplines include: acoustical engineering, architecture, civil engineering, computer engineering, land surveying, master planning, electrical engineering, forensic consulting, HVAC, interior design, communications engineering, landscape architecture, construction management “agency,” mechanical engineering, software engineering and traffic/transportation engineering. Restricted disciplines include: construction management “at-risk,” environmental engineering, biomedical engineering and geotechnical engineering.
The Stuckey web site includes a full list of covered disciplines.
Source: Stuckey & Co.
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